Why now is the time to start saving for 2018

January 4, 2018

Getting the right financial advice could be key to a more prosperous new year, according to the participants in a new survey. Figures from the Nottingham Building Society say that consumers believe that they could save at least £134 every month if they had the benefit of financial advice.

This means that, on average, the 1,000 people surveyed for the Nottingham Building Society think that they could save well over £1,000 each year by getting their names on their local financial adviser’s IFA software and calendar.

Savings shortage

The research reveals that almost a quarter of the adults asked (21 percent) believed that they were not saving the amount they could as a result of not having had advice, leading to them losing out on about £1,600 each year.

The survey also looked at the attitude and opinions of under 35-year-old savers and found that a third believed that not having good financial advice meant that they were unlikely to be saving with the maximum efficiency. This compares to just 12 percent of the respondents aged over 55 years, demonstrating the potential that exists for financial advisers to fill their diaries on their IFA software via Intelliflo.net, and other providers, with appointments with younger adults.

Start your search

According to experts, part of the issue appears to be that people do not know where they should start in their search for efficient and effective financial advice. The Nottingham Building Society data suggests that no less than 20 percent, or one in five of the 1,000 people questioned, admitted to struggling to access quality savings advice and 11 percent, or one in ten, said the same about finding good investment advice. This is a large part of the population who want advice.

Information source

Information about finding sound financial advice can be found on the BBC Radio 4 Money Box website at http://www.bbc.co.uk/programmes/b06d8jrg. This may be particularly useful if you believe that taking advice is essential for maximising your fortunes during 2018 and beyond.

The end of one year and the start of the next is a popular time to consider a financial overhaul, meaning that it is also an ideal time to source the financial advice you need to make sure that you are always making your money work best for you.